PageGroup plc, a UK-based staffing firm with global operations, reported revenue rose 19.3% in constant currency for the full-year ended Dec. 31 to £1.99 billion (US$2.40 billion). Gross margin improved.

“2022 was a record year for the group for both gross profit and operating profit. Gross profit grew 20.2% in constant currencies vs. 2021, and in 27 countries we delivered our best performance on record, demonstrating the strength of our globally diversified business model,” CEO Nicholas Kirk said.

In North America, gross profit increased 24%, with record years delivered by both the US and Canadian markets, according to the company. The US recorded strong trading conditions and the continued growth of newer disciplines, including technology. PageGroup also noted strong growth in construction, the largest discipline in the US. However, the company witnessed a slowdown in residential builds and reduced funding for commercial projects through second half.

Guidance

“Looking forward, there remains a high level of global macro-economic and political uncertainty in the majority of our markets,” Kirk said. “However, against this backdrop, we continue to see candidate shortages and good levels of vacancies. Given our highly diversified and adaptable business model, with a variable cost base and a strong balance sheet, we believe we are well-positioned to weather the uncertainty and continue to deliver strong shareholder returns.”

Share price and market cap

Shares in PageGroup closed down 0.89% in London today to £470.00 (US$556.10); they were 9.88% below their 52-week high, according to FT.com. The company had a market cap of £1.56 billion (US$1.85 billion).